The cost of opening a checking account at a credit union varies depending on the specific institution. Generally, credit unions require a minimum deposit to open an account. This initial deposit remains yours and becomes part of your account balance. At California Credit Union, the initial deposit to open a checking account is $25. 

While there may not be a direct cost to open a checking account, the minimum deposit requirement is an initial investment. It’s important to note that this money isn’t a fee – it’s still your funds, just placed into the new account. Some credit unions may have additional requirements or fees, but many offer members low-cost or free checking accounts.

Yes, a minimum balance is typically required to open a credit union checking account. The exact amount varies by institution. At California Credit Union, you need an opening deposit of $25 to start your personal checking account. However, there are various types of checking account structures, such as those designed for students or Bank On accounts. At California Credit Union, eligible students need an initial deposit of $0.01, while a Bank On checking account requires a minimum opening balance of $1.00. 

While this is the minimum to open the account, there may be different balance requirements to maintain the account without fees or to qualify for certain benefits. For example, some checking accounts might require a higher balance to waive monthly maintenance fees or to earn dividends.

Account holders can earn dividends at credit unions, similar to interest earned in savings accounts at banks. The specific terms and rates for earning dividends on checking accounts can vary between credit unions.

At California Credit Union, you’ll need a minimum balance of $10,000 to earn dividends on your checking account. This feature can help your money grow over time, even in your everyday spending account.

While checking account dividend rates are generally lower than savings or money market accounts, personal checking accounts offer the advantage of earning returns on funds used for everyday expenses.

When considering a dividend-earning checking account, it is crucial to weigh the potential earnings against any fees or requirements. For some members, the convenience of having all funds in one account that earns dividends is valuable. For others, it might make more sense to keep a lower balance in checking and move excess funds to a higher-yield savings account or money market account.

Credit unions are financial institutions, just like banks, that offer a range of products and services to help you reach your financial goals. In addition, credit unions are nonprofits that are owned by you, the member, instead of being owned by shareholders. This means that as a member, you often receive better benefits and more personalized service than you would at a traditional bank.

Yes, personal banking is available 24/7 through California Credit Union’s secure online platform. Our digital credit union banking system makes handling your money from home or work easy without visiting a branch.

With online banking, you can:

• Check your account balances and activity whenever you need to
• Pay your monthly bills automatically or schedule them in advance
• Make deposits by taking photos of your checks
• Move money between your accounts
• Send money to other people
• Download your monthly statements
• Track your spending to help create a budget
• Order new checks
• Report lost or stolen cards

The online platform uses strong security features to protect your personal banking information. It offers the same conveniences as traditional banks but with the personal touch that comes with credit union banking. If you need help learning how to use any features, our member service team is ready to help you get started.

To access online banking, you’ll need to be a member and set up your account. Once you’re logged in, you can handle most of your regular banking tasks without leaving home. This makes managing your money more convenient while still giving you access to all the benefits of a credit union personal bank account.

Yes, at California Credit Union, we offer a free mobile banking app that works with Apple and Android devices. You can download it by searching for “CCU Mobile Banking” in your device’s app store.

To use the app for personal banking, you’ll need to:

• Be a credit union member
• Have a smartphone or tablet with internet access

The mobile app makes credit union banking simple with features like:

• Checking your balances and recent activity
• Moving money between accounts
• Paying bills
• Finding nearby branches and ATMs
• Sending secure messages to the credit union

Our mobile banking app brings all the convenience of credit union banking to your phone, making it easy to handle your money wherever you are. It’s protected by security features to keep your banking information safe, just like the online banking system.

As a member, you will have access to 25 branch locations across Southern California. Plus, you will be able to utilize 85,000+ surcharge-free ATMs through the worldwide CO-OP® and Allpoint networks. Find Locations